The takeover agreement was signed on Friday (11 October), according to a statement posted on Inapa Deutschland’s website, and the integration is scheduled to take place on 1 December 2024. The business thanked its loyal customers, suppliers, and employees.
Through the deal, JPP – which previously acquired Premier Paper Group in 2019 – has secured the jobs “of many employees” and ensures the continuous supply of Inapa customers “with proven products and services”.
Insolvency administrator Dr. Tjark Thies, who implemented the M&A transaction with Roland Berger, commented: “The rapid takeover is a great success for everyone involved. My special thanks go to the management of Inapa Germany, which has done an excellent job despite the challenging circumstances in recent months.”
Inapa Deutschland’s managing directors Thomas Schimanowski and Martin Tewes were pleased about the deal with JPP and said various synergy effects would make it possible to significantly strengthen the company’s position in Germany.
EUWID Pulp and Paper has reported that in a public document disclosed last week with the Tokyo Stock Exchange, JPP – which is working to increase its market share in Europe – said it planned to establish two new wholly-owned companies in Germany.
OVOL Papier Deutschland will take over the business of Inapa Deutschland, while OVOL C&P Deutschland will take over the business of both Inapa Packaging and Inapa ComPlott.
Bruno da Costa Pereira was appointed as the administrator of Portuguese parent group Inapa IPG when it filed for insolvency this summer after Inapa Deutschland had also filed for insolvency following a cashflow problem.
Inapa IPG separately confirmed last week that Inapa Packaging has been sold to Next Pack for a fixed price of €20m (£16.7m).
The deal, for 100% of the share capital of Inapa Packaging, includes its subsidiaries SEMAQ - Societé D’Emballage et de Manutention D'Aquitaine and Embaltec.
Inapa, which was founded in 1965, previously had a UK-based subsidiary, Tavistock Paper, but this was sold to paper merchant Gerald Judd in 2011.
